The US Dollar Is in the Positive Zone. The US Delays Introduction of Tariffs for China

The US dollar strengthened against a basket of major currencies. Yesterday, it became known that the US Trade Representative, Robert Lighthizer, and Secretary of the Treasury, Steven Mnuchin, had a phone call with Chinese Vice Premier, Liu He. The officials also agreed to phone again in two weeks. The United States is going to postpone the introduction of tariffs on a number of Chinese goods until December 15. The US President, Donald Trump, likely made this decision not because of success in US-China trade negotiations, but due to pressure from the US companies. The US dollar index (#DX) closed the trading session in the positive zone (+0.45%).

Optimistic economic data supported the US currency. So, yesterday, the core consumer price index was published, which increased by 0.3% in July, while experts expected growth by only 0.2%. Investors are currently expecting additional drivers.

In addition, ambiguous economic data on the UK economy were published yesterday. Thus, the average earnings index + bonus grew by 3.7% in June, as experts expected. Initial jobless claims counted only to 28.0K in July instead of 32.0K. However, the unemployment rate rose to 3.9% in June, while experts forecasted the rate at 3.8%.

The "black gold" prices are falling after a significant increase the day before. Futures for the WTI crude oil are currently testing the $56.35 mark per barrel. At 17:30 (GMT+3:00), US crude oil inventories will be published.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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